Tradeweb Markets (TW) Intangibles (2018 - 2026)
Tradeweb Markets (TW) recorded Intangibles of $1.09 billion in Q2 2026, down 10.1% from $1.21 billion a year earlier and down 2.6% from the prior quarter.
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Analysis
Tradeweb Markets (TW) Intangibles (2018 - 2026) Analysis & Trends
At the end of FY2025, Tradeweb Markets reported Intangibles of $1.15 billion, down 10.4% from FY2024.
- Annual Intangibles has a five-year compound annual growth rate of -0.6% (FY2020 to FY2025).
- Across earlier years, Intangibles came in at $1.28 billion in FY2024 (+27.5%), $1 billion in FY2023 (-6.3%), $1.07 billion in FY2022 (-9.1%) and $1.18 billion in FY2021 (-0.2%).
- The Q2 2026 figure is the lowest quarterly Intangibles since Q2 2024.
- On a year-over-year basis, Intangibles has declined for four consecutive quarters, with growth averaging 6.9% over the last eight quarters.
- Peak year-over-year performance for Intangibles in the last five years was growth of 27.5% in Q4 2024, against a decline of 10.5% in Q3 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $1.12 billion (Q1 2026), $1.15 billion (Q4 2025) and $1.18 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Intangibles (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 106.56 Bn | 94.66 Bn | - | 2.49 Bn |
| 2 | Intercontinental Exchange | 89.45 Bn | 83.19 Bn | - | 14.87 Bn |
| 3 | Robinhood Markets | 88.18 Bn | 69.22 Bn | - | 246.00 Mn |
| 4 | Nasdaq | 53.47 Bn | 50.90 Bn | 1.50 Bn | 6.22 Bn |
| 5 | Interactive Brokers | 37.14 Bn | 14.26 Bn | - | - |
| 6 | Cboe Global Markets | 33.00 Bn | 24.66 Bn | 731.60 Mn | 1.18 Bn |
| 7 | LPL Financial Holdings | 25.71 Bn | 21.03 Bn | - | 3.43 Bn |
| 8 | Tradeweb Markets | 25.33 Bn | 17.34 Bn | - | 1.09 Bn |
| 9 | Circle Internet | 21.30 Bn | 15.18 Bn | 288.85 Mn | 446.58 Mn |
| 10 | Xp | 16.54 Bn | -5.29 Bn | 105.39 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.09 Bn |
| Mar 31, 2026 | 1.12 Bn |
| Dec 31, 2025 | 1.15 Bn |
| Sep 30, 2025 | 1.18 Bn |
| Jun 30, 2025 | 1.21 Bn |
| Mar 31, 2025 | 1.25 Bn |
| Dec 31, 2024 | 1.28 Bn |
| Sep 30, 2024 | 1.32 Bn |
| Jun 30, 2024 | 1.00 Bn |
| Mar 31, 2024 | 1.03 Bn |
| Dec 31, 2023 | 1.00 Bn |
| Sep 30, 2023 | 1.03 Bn |
| Jun 30, 2023 | 1.02 Bn |
| Mar 31, 2023 | 1.05 Bn |
| Dec 31, 2022 | 1.07 Bn |
| Sep 30, 2022 | 1.10 Bn |
| Jun 30, 2022 | 1.13 Bn |
| Mar 31, 2022 | 1.15 Bn |
| Dec 31, 2021 | 1.18 Bn |
| Sep 30, 2021 | 1.20 Bn |
API Access
Tradeweb Markets Intangibles API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=intangibles&ticker=TW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "intangibles", "ticker": "TW", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=intangibles&ticker=TW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();